Awfis Space Solutions, India’s largest and only publicly listed flexible workspace solutions provider, has taken a big leap in redefining the modern workplace experience. In a first of its kind, the company has announced a pan India partnership with ECOS (India) Mobility & Hospitality to offer premium corporate transportation services. This will provide secure, scalable and cost effective mobility solutions for enterprises and coworking professionals.
This is Awfis’ foray beyond traditional office spaces. With its agile workspace network of over 200 centres across 18 cities, Awfis is now expanding into ancillary services that enhance employee productivity and workplace satisfaction.
Addressing a Core Workforce Challenge
Amit Ramani, Chairman & Managing Director, Awfis Space Solutions said:
“At Awfis, we have always believed that workspace solutions extend beyond physical offices. With this partnership, we are enhancing the overall business experience by providing seamless transport solutions that complement our workspace offerings. This partnership is a validation of Awfis’ commitment to innovation and client satisfaction.”
Awfis’ research shows that commuting is one of the top reasons professionals hesitate to come back to office. With this partnership, the company is directly addressing this pain point with reliable and comfortable transportation offerings.
Comprehensive Suite of Transportation Solutions
The premium transportation services launched through this collaboration include:
- Corporate car rentals with flexible durations
- Employee shuttle and carpooling services
- Executive and VIP chauffeured vehicles
- Event-specific coordinated transport for conferences and corporate gatherings
- Hotel travel desk solutions including airport transfers
- Self-drive vehicles for autonomy and convenience
These services will be accessible to all Awfis clients through an easy-to-use booking interface backed by 24×7 customer support, ensuring convenience and availability across India.
Pan-India Coverage Backed by ECOS Mobility
Founded in 1996, ECOS Mobility & Hospitality is India’s leading provider of managed premium cab and employee transport solutions. With operations in over 109 Indian cities, 14 offices, and a fleet exceeding 12,000 vehicles ranging from economy cars to luxury coaches, ECOS brings industry-leading expertise in corporate mobility logistics.
Rajesh Loomba, Chairman & Managing Director at ECOS Mobility, shared:
“This partnership represents our commitment to solving real business challenges. By combining Awfis’ understanding of business needs with our transportation logistics expertise, we are delivering a solution that ensures consistency, security, and value across India’s major business hubs.”
In addition to domestic coverage, ECOS also offers international transport solutions in over 30 countries, making this partnership particularly valuable for multinational corporations and Global Capability Centers (GCCs).
Awfis and ECOS Mobility Post-IPO Performance
Awfis Space Solutions launched its IPO on 22 May 2024, with a total issue size of INR 598.93 crore. The IPO comprised both a fresh issue and an offer for sale (OFS). Awfis IPO was oversubscribed to 108.15 times and delivered 10.12% returns. The stock touched its all-time highest closing price of INR 899.90 per share on 23 August 2024, reflecting a multibagger 134% from allotment price of INR 383 per share. Notably, the stock is trading around INR 647 per share (a correction of 39% from its highest closing price).
ECOS (India) Mobility & Hospitality launched its IPO on 28 August 2024, with an issue size of INR 601.20 crore, Ecos Mobility IPO was a complete OFS, it was subscribed 64X and listed with 32.68% returns. Post-Listing shares of Ecos Mobility reached its all-time high price of INR 589.85 per share. reflecting a gain of ~76%. Currently, it is trading around INR 199 per share, down ~40% from its allotment price of INR 334 per share.
Tailored for the Future of Work
As businesses continue to adapt to hybrid models and evolving employee expectations, Awfis’ entry into mobility services is timely. This venture not only enhances the brand’s positioning as a one-stop solution for modern enterprises but also supports its mission of delivering ‘workplace as a service‘. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.